Welcome to the April episode of Learn with a Lender with Joel Schaub of Guaranteed Rate!



In this episode Joel talks about the mortgage rate increases, and how this situation is creating a little confusion for the buyers. Next Joel discusses how agents should advise their clients properly, not to rush into the decision of purchasing the property just because of the current low rates. Last, Joel emphasizes the importance of communication and showing the clients different alternatives of loans.



If you’d prefer to watch this interview, click here to view on YouTube!



Joel can be reached at [email protected] and 773.654.2049.



This episode is brought to you by Real Geeks.







Transcript



D.J. Paris 0:00What's going on with lending rates? And where do we see them heading for the rest of the year? Stay tuned. This episode of Keeping it real is brought to you by real geeks. How many homes are you going to sell this year? Do you have the right tools? Is your website turning soft leads and interested buyers? Are you spending money on leads that aren't converting? Well real geeks is your solution. Find out why agents across the country choose real geeks as their technology partner. Real geeks was created by an agent for agents. They pride themselves on delivering a sales and marketing solution so that you can easily generate more business. Their agent websites are fast and built for lead conversion with a smooth search experience for your visitors. Real geeks also includes an easy to use agent CRM. So once a lead signs up on your website, you can track their interest and have great follow up conversations. Real geeks is loaded with a ton of marketing tools to nurture your leads and increase brand awareness visit real geeks.com forward slash keeping it real pod and find out why Realtors come to real geeks to generate more business again, visit real geeks.com forward slash keeping it real pod. And now onto our show.



Welcome to another episode of Keeping it real the largest podcast made by real estate agents and for real estate agents. My name is DJ Parris. I am your guide and host through the show today. Once again is our monthly series called Learn with a lender with Joel Schaub, one of my favorite people in the whole planet. So you're so lucky to get to listen to Joel because I am lucky to get to listen to Joel he's from guaranteed rate. Let's talk about Joel Joel is the vice president of lending a guaranteed rate he's been doing loans at a high level since 2003. He's got to that level because of what he does specifically for agents, which is he gives back part of his commission to the buyer on every transaction. Last year alone Joe gave back over $300,000 in closing costs to his buyers who worked with him and that put his volume in the top one 10% of all lenders nationwide. By the way, if you're watching this, you're probably listening but Joe's lovely wife, Christine just walked back and forth. And I would feel sad that I was talking because I would have loved to have said Hi Christine. We love you. Everybody loves you. But anyway, back to Joel. And let's see where were we Oh, Joel is in the top 1/10 of 1% of all lenders nationwide. In fact out of 400,000 loan officers in the country Joel is in ranked number 137 guys. Last year he closed 319 transactions that was 2020 to its highest amount ever. He crushed it. He's doing well this year as well. He is just constantly doing it. Joel is a legend here in the Chicagoland area, but guaranteed rate is licensed in all 50 states. So if you meaning our listeners are watching or viewing, watching, listening rather, are wanting a better relationship with a lender, somebody that can actually help you grow your business. Joel Schaub and his team are the kings of that they want to talk to you. And even if you're not going to work with them directly, they have an amazing email list that we're going to get you to subscribe to, because it'll give you some talking points you can use with your clients. But if you are looking for a loan officer, we cannot highly more recommend sorry, we cannot more highly recommend Joel. He's the very best we've ever worked with. He did my mortgage. I've sent people to him. He's the very best out there. No full stop. Joel can be reached, reach out to him at his email [email protected] [email protected]. Or you can shoot him a text message or call him at 773-654-2049. Let's say hello to the biggest Cubs fan. I know Joel Schaub Joel welcome,



Joel Schaub 4:05DJ, thanks so much for having me on. I love it when we go through the numbers, but I really like being here and giving back and this is what we were talking about. Before we got on the air. It's being able to educate and learn just one or two more things that will help agents close another deal or help a buyer or maybe even get another seller. So I'm excited.



D.J. Paris 4:26I want to start but we always put the plugs at the end. I want to put the plug at the beginning this time because speaking of giving back, you and your team put out y'all this is so funny, I have to have actually interrupting my own story because I started to send this to you earlier this morning in an email. I got an email from a very, very famous like a famous mortgage lender, kind of a celebrity mortgage lender on the East Coast. I won't mention his name. He's apparently a very nice person. Somehow I got on his email list. He sent me the longest email full I mean it was just chock full of stuff, and I looked at it in my mind, sort of I went dizzy. And it was just so much content in one email that I literally was like, I don't know what to do with this. And it, and I was gonna send it to you because I was thinking, I'm so glad you don't do that. But you do have an email that you send out every week that your team sends out, that literally gives you a several different data points of what's going on in the mortgage world and the lending world. And so I want everybody who's listening to our show to subscribe to that, because I've seen what other lenders send, and it's not that good. But what you send is awesome. So where can people go to subscribe to that?



Joel Schaub 5:39On Tuesday, we call that information overload, right? There's just too much information out there. And right now, especially with buyers, they have all these different news sources talking to them about interest rates, and it's all lagging data, right? They literally are being told one week, mortgage rates went up. And they're actually lower than they were the and so having some bite sized education pieces that you can look at weekly, make all the difference in the world if you're an agent, and we've created that list. So you can literally subscribe by just sending an email to [email protected]. And say, sign me up for your newsletter. And on a weekly basis, we give you digestible DJ, things that you can speak to in terms of not just the rates, but different programs and trends that are happening so that you can see my top of the market and do it in a way that sets you apart from others in your market.



D.J. Paris 6:35Awesome while everyone go send that email to [email protected]. And they will get you on their email list. And then you when you're talking to your clients, and they ask what's going on in the lending world, you will have bullet points and you will not have to Oh, I have to send you this email. There was like seven videos in the email anyway, tons and tons of stuff. It's information overload. But that is not what we do on this show, we distill down to the most important details because realtors and lending are intricately related and connected and one depends on the other. And we all need more business. So what's going on? What should we be talking about this month?



Joel Schaub 7:16Well, we got an action packed show because right now there's so much volatility in terms of interest rates. And so it's really important if you're an agent to kind of be on top of what's going on in the market, because buyers are asking, right, should I wait right now with rates being too high? If you're an agent listening to this, I know you've heard that a buyer says I think I'm gonna wait until rates come down before we buy and DJ this. The problem with that is when rates do come down, we're gonna see a flood of buyers back into the market. Okay. And we already know that the data points for the Fed are indicating that we're going to drop rates over 100 basis points next year. So you're hearing at first, that that probably has gone too far already. But they have to stay on track, at least this year with the rate increases. And as soon as it's done, we will see a big drop. That doesn't mean that clients need to wait until that day to get into the market. Even though we don't really like this phrase of buy the home, right where you're getting in. And I don't even like this, but it's married the home and date three, okay. However, you can literally use this exact same strategy, whether rates are going to drop in six months or two years. We shouldn't be buying just specifically because of rate. And you know that?



D.J. Paris 8:37Yeah, it's you know, it's so amazing. So we were looking at our numbers at our brokerage Today we have over 700 agents. And this this peel back the curtain a little bit, we were looking at our numbers, and we saw something that kind of stuck out at us. And it was really, really interesting. And so last week, with our agents, we only had nine new listings, which was very, very low for us were like, Oh, wow, that's really low. This or I'm sorry, two weeks ago, nine, nine listings last week, 21 new listings, and we looked and we're like, what's going on? Is it the spring market? Is it? It's it's a lot of things, right? And the good news is, it's a great time to list your property because, yes, there's a little bit more competition, but rates are not again, I just I don't think six and a half percent or six,

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